SOURCE: Calyx Software

Calyx Software

June 13, 2017 09:30 ET

Portfolio Underwriter is Now Available through Calyx Software

DALLAS, TX--(Marketwired - June 13, 2017) - Calyx Software®, a leading provider of comprehensive mortgage software solutions for banks, credit unions, mortgage bankers and brokers, announced Portfolio Underwriter™, an advanced automated underwriting system (AUS) from LoanScorecard™, is now available to Point® and PointCentral® clients.

Portfolio Underwriter allows portfolio lenders to customize credit decisioning and safely originate non-agency loans that they intend to put on their balance sheets. It captures a portfolio lender's program guidelines within its engine and delivers a rules-based underwriting decision in seconds. Results of the decision are documented in a findings report. This report includes program-specific, conditional underwriting criteria utilized in the data analysis.

Portfolio Underwriter seamlessly integrates with Calyx Point and PointCentral loan origination systems. The connection facilitates bidirectional data flow and provides a single system of record for all loan documentation. Centralization of processes and documents streamlines preparation for audits, board reviews and regulatory submissions.

The solution helps portfolio lenders by:

  • Providing a mechanism to safely and easily communicate underwriting criteria for new niche products.
  • Conducting extensive loan file data checks and in-depth credit report reviews.
  • Allowing them to manage exceptions based on valid compensating factors on the loan, rather than loan officer "discretion."
  • Ensuring consistent, transparent credit policy application to demonstrate Fair Lending and improve efficiency.

"Manually underwriting portfolio loans not only exposes lenders to Fair Lending issues, but is also time consuming and costly," said Ben Wu, Executive Director at LoanScorecard. "By incorporating automated technology like Portfolio Underwriter, portfolio lenders using Point and PointCentral can improve efficiency by streamlining decisioning for their unique programs and focus on more complex transactions."

"The predominant focus of Fair Lending violations is how and why loans were approved; therefore, it is critical to have an AUS in place to demonstrate the standard practice of quality underwriting," said Bob Dougherty, Vice President of Business Development at Calyx Software. "While lenders are certainly familiar with agency AUSs, they are also aware of gaps in automated decisioning for their portfolio products. Portfolio Underwriter helps lenders who originate portfolio loans automatically determine the appropriate response for their institution-ensuring compliance with Fair Lending at the point of sale and in the underwriting process."

For more information, visit CalyxSoftware.com.

About Calyx Software

Calyx Software® is a provider of innovative solutions to help streamline and simplify all phases of the loan process. The company's offerings include its Point® and PointCentral® loan origination systems for banks, credit unions, mortgage bankers and brokers; INK-it®, a secure electronic signature solution; and WebCaster®, a consumer website development tool. For more information call (800) 362-2599 or visit www.calyxsoftware.com.

About LoanScorecard
LoanScorecard™ is a leading provider of automated underwriting and loan pricing solutions designed to meet today's regulatory challenges and capitalize on today's market opportunities. The company's Portfolio Underwriter™ can be tailored to capture a lender's specific credit policy and render underwriting findings that demonstrate a consistent loan manufacturing process to auditors and investors. Portfolio Producer™ electronically distributes wholesale and investor products and pricing to third-party originators (TPOs), providing TPOs with a real-time, interactive tool to determine borrower fit and price for non-agency programs, and enabling them to submit qualified loans to wholesalers and investors with confidence. Additionally, as the industry's first QM engine, LoanScorecard helps institutions address CFPB regulations through its QM Findings, the industry's first qualified mortgage (QM) engine which has rendered more than 4 million QM findings reports to-date. For more information, visit loanscorecard.com or call 800-617-0892.

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